Warner Music Group (NASDAQ:WMG – Get Rating) is scheduled to post its quarterly earnings results before the market opens on Tuesday, August 9th. Analysts expect Warner Music Group to post earnings of $0.19 per share for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.
Warner Music Group (NASDAQ:WMG – Get Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.03). The firm had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.37 billion. Warner Music Group had a net margin of 6.45% and a return on equity of 362.14%. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.22 EPS. On average, analysts expect Warner Music Group to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.
Warner Music Group Price Performance
NASDAQ:WMG opened at $31.50 on Friday. The company has a debt-to-equity ratio of 22.13, a quick ratio of 0.58 and a current ratio of 0.61. The stock’s 50-day simple moving average is $27.25 and its 200 day simple moving average is $32.15. The company has a market cap of $16.22 billion, a P/E ratio of 44.37, a P/E/G ratio of 1.30 and a beta of 1.56. Warner Music Group has a 52-week low of $23.74 and a 52-week high of $50.23.
Warner Music Group Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 1st. Shareholders of record on Monday, May 23rd were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend was Friday, May 20th. Warner Music Group’s dividend payout ratio (DPR) is presently 84.51%.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the business. Mirabella Financial Services LLP bought a new position in Warner Music Group in the 1st quarter valued at $230,000. Captrust Financial Advisors boosted its holdings in Warner Music Group by 106.5% in the 1st quarter. Captrust Financial Advisors now owns 7,344 shares of the company’s stock valued at $278,000 after purchasing an additional 3,787 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Warner Music Group by 1,416.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,267 shares of the company’s stock worth $313,000 after acquiring an additional 7,722 shares during the last quarter. Fairview Capital Investment Management LLC lifted its holdings in shares of Warner Music Group by 59.2% during the 1st quarter. Fairview Capital Investment Management LLC now owns 9,550 shares of the company’s stock worth $361,000 after acquiring an additional 3,550 shares during the last quarter. Finally, Citigroup Inc. lifted its holdings in shares of Warner Music Group by 66.3% during the 1st quarter. Citigroup Inc. now owns 10,016 shares of the company’s stock worth $379,000 after acquiring an additional 3,994 shares during the last quarter. 22.29% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on the company. Truist Financial reduced their price objective on Warner Music Group from $40.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, July 19th. Citigroup reduced their price objective on Warner Music Group from $31.00 to $27.00 and set a “neutral” rating for the company in a report on Thursday, July 7th. TheStreet cut Warner Music Group from a “c-” rating to a “d+” rating in a research note on Thursday, July 14th. Guggenheim boosted their price target on Warner Music Group from $30.00 to $34.00 and gave the company a “buy” rating in a research note on Friday, June 3rd. Finally, Morgan Stanley cut their price target on Warner Music Group from $37.00 to $34.00 and set an “overweight” rating for the company in a research note on Monday, July 25th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $40.38.
Warner Music Group Company Profile
Warner Music Group Corp. operates as a music entertainment company in the United States, the United Kingdom, Germany, and internationally. The company operates through Recorded Music and Music Publishing segments. The Recorded Music segment is involved in the discovery and development of recording artists, as well as related marketing, promotion, distribution, sale, and licensing of music created by such recording artists; markets its music catalog through compilations and reissuances of previously released music and video titles, as well as previously unreleased materials; and conducts its operation primarily through a collection of record labels, such as Warner Records and Atlantic Records, as well as Asylum, Big Beat, Canvasback, East West, Erato, FFRR, Fueled by Ramen, Nonesuch, Parlophone, Reprise, Roadrunner, Sire, Spinnin’ Records, Warner Classics, and Warner Music Nashville.
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